Cemtrex Inc. announces compliance with Nasdaq's equity requirements, ensuring continued listing on the exchange.
Quiver AI Summary
Cemtrex Inc. announced that it has regained compliance with Nasdaq's minimum stockholders’ equity requirement, allowing its stock to continue trading on the Nasdaq Stock Market. This follows a notification received in August 2024 regarding a prior deficiency. According to a Form 10-K filed on December 30, 2024, Cemtrex reported stockholders’ equity of $4,710,677, which satisfied Nasdaq's criteria. The company, which operates subsidiaries Vicon Industries and Advanced Industrial Services, specializes in advanced security technology and industrial services. With this compliance, Cemtrex has no deficiencies related to its Nasdaq listing.
Potential Positives
- Cemtrex Inc. has regained compliance with the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(1), allowing its securities to continue being listed and traded on The Nasdaq Stock Market.
- This positive development indicates improved financial health for Cemtrex, as evidenced by its reported stockholders’ equity of $4,710,677 as of December 30, 2024.
- The resolution of the compliance issue eliminates any deficiencies regarding the company's Nasdaq listing, which can enhance investor confidence.
Potential Negatives
- The company previously faced a notification for non-compliance with Nasdaq's minimum stockholders’ equity requirement, indicating financial instability.
- While the company has regained compliance, the previous deficiency could lead to concerns among investors about the company's financial health and management.
- The press release provides limited details on how the company plans to sustain compliance moving forward, which may raise questions regarding long-term stability.
FAQ
What recent compliance achievement has Cemtrex Inc. announced?
Cemtrex Inc. announced that it has regained compliance with Nasdaq's minimum stockholders' equity requirement.
How does this impact Cemtrex's stock listing?
The company’s stock will continue to be listed and traded on The Nasdaq Stock Market.
What triggered the previous notification from Nasdaq?
The prior notification was due to Cemtrex's stockholders' equity being below the minimum required for continued listing.
What is Cemtrex's current stockholders' equity?
Cemtrex reported stockholders' equity of $4,710,677 in its Form 10-K filed on December 30, 2024.
What are Cemtrex's main business areas?
Cemtrex operates through subsidiaries Vicon Industries and Advanced Industrial Services, focusing on security technology and industrial contracting services.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CETX Hedge Fund Activity
We have seen 2 institutional investors add shares of $CETX stock to their portfolio, and 14 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ALTIUM CAPITAL MANAGEMENT LP removed 339,961 shares (-100.0%) from their portfolio in Q3 2024
- HRT FINANCIAL LP removed 120,487 shares (-98.9%) from their portfolio in Q3 2024
- GEODE CAPITAL MANAGEMENT, LLC removed 52,667 shares (-97.1%) from their portfolio in Q3 2024
- WARBERG ASSET MANAGEMENT LLC removed 48,500 shares (-100.0%) from their portfolio in Q3 2024
- VIRTU FINANCIAL LLC removed 40,629 shares (-100.0%) from their portfolio in Q3 2024
- XTX TOPCO LTD removed 29,512 shares (-99.1%) from their portfolio in Q3 2024
- TWO SIGMA SECURITIES, LLC added 24,852 shares (+inf%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Brooklyn, NY, Jan. 06, 2025 (GLOBE NEWSWIRE) -- –
Cemtrex Inc.
(NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, today announced that it has received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it has regained compliance with the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(1). The Company’s security will continue to be listed and traded on The Nasdaq Stock Market.
Cemtrex previously received a notification letter from the Nasdaq Listing Qualifications Department on August 23, 2024, notifying the Company that, because the stockholders’ equity for the Company was below the minimum required for continued listing on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(1).
Based on the Company’s Form 10-K filed on December 30, 2024, evidencing stockholders’ equity of $4,710,677, Nasdaq has determined that the Company complies with the Minimum Stockholder’s Equity Requirement and this matter is now closed. The Company now no longer has any deficiencies as it pertains to its listing on Nasdaq.
About Cemtrex
Cemtrex Inc. (CETX) is a company that owns two operating subsidiaries: Vicon Industries Inc and Advanced Industrial Services Inc.
Vicon Industries
, a subsidiary of Cemtrex Inc., is a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals and cities. Since 1967, Vicon delivers mission-critical security surveillance systems, specializing in engineering complete security solutions that simplify deployment, operation and ongoing maintenance. Vicon provides security solutions for some of the largest municipalities and businesses in the U.S. and around the world, offering a wide range of cutting-edge and compliant security technologies, from AI-driven video analytics to fully integrated access control solutions. For more information visit
www.vicon-security.com
.
AIS – Advanced Industrial Services
, a subsidiary of Cemtrex, Inc., is a premier provider of industrial contracting services including millwrighting, rigging, piping, electrical, welding. AIS Installs high precision equipment in a wide variety of industrial markets including automotive, printing & graphics, industrial automation, packaging, and chemicals. AIS owns and operates a modern fleet of custom designed specialty equipment to assure safe and quick installation of your production equipment. Our talented staff participates in recurring instructional training, provided to ensure that the most current industry methods are being utilized to provide an efficient and safe working environment. For more information visit
www.ais-york.com
.
For more information visit
www.cemtrex.com
.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.
Investor Relations
Chris Tyson
Executive Vice President – MZ North America
Direct: 949-491-8235
CETX@mzgroup.us
www.mzgroup.us
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
